LAHORE: Special Adivisor to Prime Minister on Revenue Haroon Akhtar has said that traders should avail the benefits of Voluntarily Tax Compliance Scheme (VTCS) until February 29.
Speaking during a seminar, he warned that those who will not take benefits of VTCS and fail to file their tax returns will have to pay 0.6 percent withholding tax on banking transactions. He said that this scheme provides golden opportunity to all non-filers to become filers. He said that after coming under tax net the FBR will not issue any notice to them.
According to a rough estimate a trader have to pay only Rs 2000/- on income of Rs 10,0000 and FBR will also levy fine on them.
